Updated Jan 21, 2023 01:39

Vegetable Puree Market in Russia

Market Overview
In , the Russian vegetable puree market decreased by -% to $ for the first time since 2019, thus ending a two-year rising trend. Overall, consumption recorded a slight reduction. Vegetable puree consumption peaked at $ in 2010; however, from 2011 to , consumption stood at a somewhat lower figure.


Consumption
In , after four years of growth, there was significant decline in consumption of vegetable puree, when its volume decreased by -% to tons. Overall, the total consumption indicated a mild expansion from 2007 to : its volume increased at an average annual rate of +% over the last fifteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2017 indices. Over the period under review, consumption hit record highs at tons in , and then reduced in the following year.

The size of the vegetable puree market in Russia contracted to $ in , with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a slight setback. Vegetable puree consumption peaked at $ in 2010; however, from 2011 to , consumption remained at a lower figure.


Market Forecast
The vegetable puree market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Vegetable puree market in Russia consists almost entirely of imported products.


Trade Balance
Russia remains a net importer of vegetable puree; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.